17,704 Shares in Visa Inc. $V Bought by Independent Financial Group LLC

Independent Financial Group LLC bought a new position in shares of Visa Inc. (NYSE:VFree Report) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 17,704 shares of the credit-card processor’s stock, valued at approximately $5,351,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invariant Investment Management bought a new position in shares of Visa during the fourth quarter worth about $969,000. Nixon Peabody Trust Co. raised its position in Visa by 58.1% in the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock valued at $1,270,000 after buying an additional 1,543 shares during the last quarter. Vanguard Group Inc. lifted its stake in Visa by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after acquiring an additional 1,054,343 shares in the last quarter. Swiss Life Asset Management Ltd lifted its stake in Visa by 4.7% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 527,530 shares of the credit-card processor’s stock valued at $180,088,000 after acquiring an additional 23,863 shares in the last quarter. Finally, Savvy Advisors Inc. boosted its position in Visa by 30.1% during the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock worth $10,143,000 after acquiring an additional 6,688 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the sale, the general counsel owned 18,404 shares in the company, valued at $6,625,440. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 75,581 shares of company stock worth $25,627,975. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of Visa in a research note on Wednesday, April 29th. Oppenheimer reissued an “outperform” rating and issued a $403.00 price objective (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Clear Str upgraded shares of Visa to a “strong-buy” rating in a report on Thursday. UBS Group raised their target price on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Citigroup lowered their price target on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $398.36.

Get Our Latest Stock Analysis on Visa

Visa News Summary

Here are the key news stories impacting Visa this week:

Visa Stock Down 1.8%

V stock opened at $358.51 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average price of $334.41 and a two-hundred day moving average price of $325.20. The company has a market cap of $643.08 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 1.95 and a beta of 0.75. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.14.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same quarter in the previous year, the firm earned $2.76 EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 13.11 EPS for the current fiscal year.

Visa announced that its board has initiated a stock repurchase plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, May 12th. Visa’s payout ratio is presently 23.34%.

About Visa

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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